ICICI Direct, The Euro slid the most on Friday after European banking concerns diminished the bullish bets on the Euro.

ICICI Direct, The US dollar index fell almost 0.57% on Monday to its lowest level in a month amid boost in dollar funding by Fed and other central banks.

The rupee closed at 82.6350 per dollar, compared with its previous close of 82.5525.

ICICI Direct, The US dollar index fell more than 0.50% on Friday as University of Michigan’s March US inflation expectations index declined below 4% for the first time since May 2021 to 3.8%.

So far this year, the rupee has depreciated 8.08 percent against the dollar. It is the second worst-performing currency in Asia against the dollar after the yen, which is down 8.5 percent

According to Way2Wealth, USDINR pair was consolidating near key levels since last few trading sessions. USDINR pair recorded the high of 82.87 and low of 82.65 to settle on a flat note on Thursday.

The rupee declined to 82.80 to the U.S. dollar on Thursday, its lowest in about two weeks.

Financial sector tensions have dealt a blow to oil demand outlook, but India finds herself in a macroeconomic sweet spot.

Traders said positive sentiments in the domestic equity market and weaker dollar, however, resisted the decline in the Indian currency.

ICICI Direct, The Euro continued to trade above the key psychological level of 1.07 as recovery in global equities helped it to trade on a firmer note.